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Professional Indemnity Insurance in France is a report about the French market for and distribution of policies covering professional liability. For 2011, 2015 and with a forecast for 2019, the study breaks down the market for professional indemnity insurance on a standardised basis by professional group with 13 categories considered as follows:
accountancy and finance;
architecture;
D&B (design and build);
engineering;
estate agency;
financial and insurance intermediation;
healthcare-related services;
IT and business consulting;
legal services;
media and marketing;
medicine and dentistry;
surveying;
other professional sectors.
In particular, the report quantifies the number, growth in number and segmentation of insurable enterprises in France from 2011 to 2015 plus the value, growth and segmentation of the market for professional indemnity insurance over the same time frame and with a forecast to 2019. These segmentations are provided not only for each of the 13 aforementioned professional categories but also by annual fee income or turnover band in order to show the potential and actual market value in France attributable to the largest and smallest professional enterprises.
In addition, three further segmentations of the market value in 2015 are also given: between business dealt with by domestic underwriters and that placed with non-domestic underwriters; between new business and renewals; and between primary layer and excess layer business.
Moreover, on the basis of a survey of leading brokers of professional indemnity cover in France, the report identifies the underwriters of this type of insurance that are used most frequently and provides estimates for the market shares by premium income of leading underwriters in 2015 for all forms of professional indemnity cover combined expressed as a percentage range (e.g. 5.0% to 7.5%).
Finally, the study identifies affinity schemes for professional indemnity insurance in France set up between professional / trade associations with a nationwide remit and brokers or underwriters of this type of cover (based on a survey of over 170 such associations), highlights other distribution channels used to sell this form of insurance (e.g. brokers, direct sales, online aggregators, other affinity partners) and discusses key issues associated with the market.
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accountancy and finance;
architecture;
D&B (design and build);
engineering;
estate agency;
financial and insurance intermediation;
healthcare-related services;
IT and business consulting;
legal services;
media and marketing;
medicine and dentistry;
surveying;
other professional sectors.
In particular, the report quantifies the number, growth in number and segmentation of insurable enterprises in France from 2011 to 2015 plus the value, growth and segmentation of the market for professional indemnity insurance over the same time frame and with a forecast to 2019. These segmentations are provided not only for each of the 13 aforementioned professional categories but also by annual fee income or turnover band in order to show the potential and actual market value in France attributable to the largest and smallest professional enterprises.
In addition, three further segmentations of the market value in 2015 are also given: between business dealt with by domestic underwriters and that placed with non-domestic underwriters; between new business and renewals; and between primary layer and excess layer business.
Moreover, on the basis of a survey of leading brokers of professional indemnity cover in France, the report identifies the underwriters of this type of insurance that are used most frequently and provides estimates for the market shares by premium income of leading underwriters in 2015 for all forms of professional indemnity cover combined expressed as a percentage range (e.g. 5.0% to 7.5%).
Finally, the study identifies affinity schemes for professional indemnity insurance in France set up between professional / trade associations with a nationwide remit and brokers or underwriters of this type of cover (based on a survey of over 170 such associations), highlights other distribution channels used to sell this form of insurance (e.g. brokers, direct sales, online aggregators, other affinity partners) and discusses key issues associated with the market.
Note: Product cover images may vary from those shown
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0.0 EXECUTIVE SUMMARY
1.0 INTRODUCTION
What is this report about?
Finaccord’s study breaks down individual country markets into 12 professional categories
Rationale
This series of reports brings this complex sector up to date...
... with affinity schemes researched in detail through the associated PartnerBASE dataset
Methodology
Association survey
Market data
Definitions
Professional indemnity insurance
Operating models
Other notes
PartnerBASE and market data annexe
Finaccord
2.0 MARKET ANALYSIS
Introduction
Number of insurable enterprises
Healthcare-related services generate over 20% of insurable professional enterprises...
... albeit the strongest growth has been occurring in the IT and business consulting sector
Market size
Cover is obligatory across many liberal professions, and this often applies to low-risk activities
Medicine and dentistry constitutes the largest market segment by value
Obstetricians, plastic surgeons and neurosurgeons have seen rising claims in recent years
About 60% of medical liability claims are treated by regional conciliation commissions
Premiums in the architecture and engineering segment exceeded EUR 300 million in 2013
IT and business consultants often take out professional indemnity insurance
The number of claims against legal services firms has tended to be moderate
About 60% of the accounting profession is covered through the affinity scheme of the professional body
Decennial insurance boosts the size of the general liability insurance market
Affinity schemes
Professional indemnity cover is available from more than a third of professional associations
Aon claims the largest number of affinity partnerships with professional associations…
... followed by Gras Savoye, LSN Assurances and the Société de Courtage des Barreaux
Eight brokers are identified as running one nationally active affinity scheme each
AXA and insurance brands belonging to Covéa appear most frequently as affinity scheme underwriters...
... followed by Allianz, MACSF and AIG
Other key insurance providers and distribution channels
Affinity schemes dominate the distribution of this insurance among some traditional professions…
…but policies are available directly from a number of both generic and sector-specific providers
Market forecast
The French market for professional indemnity insurance will edge up further between 2013 and 2017
LIST OF GRAPHICS / TABLES
TABLE OF CONTENTS
0.0 EXECUTIVE SUMMARY
Number of insurable enterprises and value of professional indemnity insurance in France, segmented by professional sector, 2013
1.0 INTRODUCTION
Professional associations contacted by Finaccord, segmented by professional category and membership type
2.0 MARKET ANALYSIS
Number of insurable enterprises in France, segmented by professional sector, 2013
Average annual growth or decline in number of insurable enterprises in France, segmented by professional sector, 2009-2013
Number of insurable enterprises in France, segmented by professional sector, 2009 and 2013 (data)
Approximate gross written premiums for professional indemnity insurance in France, segmented by professional sector, 2009 and 2013
Approximate gross written premiums for professional indemnity insurance in France, segmented by professional sector, 2009 and 2013 (data)
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in France, 2009 and 2013
Affinity schemes for professional indemnity insurance in France: provision rate and operating models, 2013
Affinity schemes for professional indemnity insurance in France: broker share of partnerships, 2013
Affinity schemes for professional indemnity insurance in France: underwriter share of partnerships, 2013
Forecast for gross written premiums for professional indemnity insurance in France, segmented by professional sector, 2013 and 2017
Forecast for gross written premiums for professional indemnity insurance in France, segmented by professional sector, 2013 and 2017 (data)
1.0 INTRODUCTION
What is this report about?
Finaccord’s study breaks down individual country markets into 12 professional categories
Rationale
This series of reports brings this complex sector up to date...
... with affinity schemes researched in detail through the associated PartnerBASE dataset
Methodology
Association survey
Market data
Definitions
Professional indemnity insurance
Operating models
Other notes
PartnerBASE and market data annexe
Finaccord
2.0 MARKET ANALYSIS
Introduction
Number of insurable enterprises
Healthcare-related services generate over 20% of insurable professional enterprises...
... albeit the strongest growth has been occurring in the IT and business consulting sector
Market size
Cover is obligatory across many liberal professions, and this often applies to low-risk activities
Medicine and dentistry constitutes the largest market segment by value
Obstetricians, plastic surgeons and neurosurgeons have seen rising claims in recent years
About 60% of medical liability claims are treated by regional conciliation commissions
Premiums in the architecture and engineering segment exceeded EUR 300 million in 2013
IT and business consultants often take out professional indemnity insurance
The number of claims against legal services firms has tended to be moderate
About 60% of the accounting profession is covered through the affinity scheme of the professional body
Decennial insurance boosts the size of the general liability insurance market
Affinity schemes
Professional indemnity cover is available from more than a third of professional associations
Aon claims the largest number of affinity partnerships with professional associations…
... followed by Gras Savoye, LSN Assurances and the Société de Courtage des Barreaux
Eight brokers are identified as running one nationally active affinity scheme each
AXA and insurance brands belonging to Covéa appear most frequently as affinity scheme underwriters...
... followed by Allianz, MACSF and AIG
Other key insurance providers and distribution channels
Affinity schemes dominate the distribution of this insurance among some traditional professions…
…but policies are available directly from a number of both generic and sector-specific providers
Market forecast
The French market for professional indemnity insurance will edge up further between 2013 and 2017
LIST OF GRAPHICS / TABLES
TABLE OF CONTENTS
0.0 EXECUTIVE SUMMARY
Number of insurable enterprises and value of professional indemnity insurance in France, segmented by professional sector, 2013
1.0 INTRODUCTION
Professional associations contacted by Finaccord, segmented by professional category and membership type
2.0 MARKET ANALYSIS
Number of insurable enterprises in France, segmented by professional sector, 2013
Average annual growth or decline in number of insurable enterprises in France, segmented by professional sector, 2009-2013
Number of insurable enterprises in France, segmented by professional sector, 2009 and 2013 (data)
Approximate gross written premiums for professional indemnity insurance in France, segmented by professional sector, 2009 and 2013
Approximate gross written premiums for professional indemnity insurance in France, segmented by professional sector, 2009 and 2013 (data)
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in France, 2009 and 2013
Affinity schemes for professional indemnity insurance in France: provision rate and operating models, 2013
Affinity schemes for professional indemnity insurance in France: broker share of partnerships, 2013
Affinity schemes for professional indemnity insurance in France: underwriter share of partnerships, 2013
Forecast for gross written premiums for professional indemnity insurance in France, segmented by professional sector, 2013 and 2017
Forecast for gross written premiums for professional indemnity insurance in France, segmented by professional sector, 2013 and 2017 (data)
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
